Teck Resources (TSE:TECK.B) Share Price Passes Below Fifty Day Moving Average – Here’s What Happened

Teck Resources Ltd (TSE:TECK.B)’s share price passed below its 50 day moving average during trading on Friday . The stock has a 50 day moving average of C$62.33 and traded as low as C$61.03. Teck Resources shares last traded at C$62.45, with a volume of 1,334,334 shares.

Wall Street Analyst Weigh In

A number of research firms have issued reports on TECK.B. Raymond James boosted their target price on Teck Resources from C$74.00 to C$75.00 in a research note on Wednesday, November 6th. JPMorgan Chase & Co. decreased their price objective on Teck Resources from C$78.00 to C$76.00 in a research report on Friday, October 25th. Scotiabank lifted their price target on shares of Teck Resources from C$74.00 to C$75.00 in a research note on Wednesday, November 6th. CIBC lowered their price objective on shares of Teck Resources from C$80.00 to C$78.00 in a research report on Friday, October 25th. Finally, Citigroup raised their price objective on shares of Teck Resources from C$64.00 to C$74.00 and gave the stock a “neutral” rating in a report on Wednesday, October 2nd. Two research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of C$76.18.

Teck Resources Trading Up 2.4 %

The company has a market cap of C$31.97 billion, a P/E ratio of 22.38, a PEG ratio of -0.38 and a beta of 1.37. The company has a current ratio of 1.48, a quick ratio of 0.97 and a debt-to-equity ratio of 37.46. The business has a 50 day moving average price of C$62.33 and a 200-day moving average price of C$64.65.

Teck Resources Company Profile

Teck is a diversified miner with coal, copper, zinc, and oil sands operations in Canada, the United States, Chile, and Peru. Metallurgical coal is Teck’s primary commodity in terms of EBITDA contribution, closely followed by copper, with zinc and oil sands contributing smaller amounts to earnings. Teck ranks as the world’s second- largest exporter of seaborne metallurgical coal and is a top-three zinc miner.